Insights

Leading brokers name 3 ASX shares to sell today

Here’s why brokers are bearish on these ASX shares…
The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia. –

On Monday I looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

According to a note out of UBS, its analysts have retained their sell rating and NZ$22.65 (~A$21.15) price target on this medical device company’s shares. The broker doesn’t expect Fisher & Paykel Healthcare to benefit meaningfully from the recall of the Philips DreamStation. It is expecting ResMed Inc (ASX: RMD) to be the main winner from the development. Outside this, the broker continues to believe its earnings are under pressure from a reduction in COVID-19 hospitalisation rates. As such, it feels its shares are overvalued. The Fisher & Paykel Healthcare share price is fetching $28.50 today.

Platinum资产管理 (ASX: PTM)

A note out of Credit Suisse reveals that its analysts have retained their underperform rating and cut the price target on this fund manager’s shares to $4.50. This follows the release of Platinum’s latest funds under management (FUM) update. Credit Suisse notes that Platinum has now recorded 30 months of FUM outflows in a row. Unfortunately, the broker doesn’t appear confident this trend will reverse in the near future. This is partly due to Platinum’s exposure to legacy investment platforms. Credit Suisse fears platform disruption and switching could have a big impact on its FUM performance in the future. The Platinum share price is sinking today and down to $4.27.

Wesfarmers Ltd (ASX: WES)

Analysts at Citi have retained their sell rating and $45.00 price target on this conglomerate’s shares. This follows news that Wesfarmers has made a takeover approach for Australian Pharmaceutical Industries (ASX: API). Citi estimates that the acquisition will be 1.7% accretive to earnings per share. And while it doesn’t see meaningful synergies from the deal, it acknowledges that it could be a way to boost its growth in a post-COVID environment. Nevertheless, due to valuation reasons, Citi holds firm with its sell rating. The Wesfarmers share price is fetching $58.55 this afternoon.

The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

Wesfarmers (ASX:WES) share price gains amid rumours of Priceline rival
ASX 200 midday update: Nearmap rockets, Incitec Pivot jumps

Why the Platinum (ASX:PTM) share price is sinking 7.5% on Tuesday
2 ASX 200 blue chip shares that might be the best to buy

5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!